Prudential Financial, Inc. $PRU Shares Purchased by Van Lanschot Kempen Investment Management N.V.

Key Points

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Van Lanschot Kempen Investment Management N.V. increased its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 5.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 255,293 shares of the financial services provider's stock after buying an additional 13,489 shares during the period. Van Lanschot Kempen Investment Management N.V. owned about 0.07% of Prudential Financial worth $28,511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of PRU. Northern Trust Corp lifted its holdings in shares of Prudential Financial by 23.7% in the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock valued at $555,513,000 after purchasing an additional 897,916 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Prudential Financial by 11,280.3% during the 1st quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider's stock worth $96,923,000 after purchasing an additional 860,239 shares during the period. Nuveen LLC purchased a new position in shares of Prudential Financial during the 1st quarter worth $90,010,000. Goldman Sachs Group Inc. boosted its stake in Prudential Financial by 19.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider's stock worth $469,777,000 after buying an additional 678,028 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Prudential Financial by 11.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider's stock valued at $404,230,000 after acquiring an additional 352,335 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

PRU stock opened at $106.66 on Tuesday. The firm has a market cap of $37.55 billion, a P/E ratio of 23.65, a P/E/G ratio of 0.94 and a beta of 1.07. The stock's 50 day simple moving average is $104.98 and its 200 day simple moving average is $106.07. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, beating the consensus estimate of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The business had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.47 billion. During the same period in the previous year, the business posted $3.39 EPS. The company's quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Tuesday, August 19th. Prudential Financial's dividend payout ratio is presently 119.73%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PRU shares. Keefe, Bruyette & Woods lowered their target price on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a report on Wednesday, May 7th. Wall Street Zen raised shares of Prudential Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Barclays upped their price objective on Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. boosted their price target on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Finally, Piper Sandler cut their price objective on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $122.08.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of Prudential Financial stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the transaction, the insider directly owned 3,168,461 shares of the company's stock, valued at $90,744,723.04. This trade represents a 112.29% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company's stock.

About Prudential Financial

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.

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